PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Freelancer In Hr &indirect Taxes For
Accounts & Finance
HR @ TIA Information Systems P Ltd.
Senior Hr Generalist
Mba , Pharmacy , And Ovously Clubbing.
CTC refers to "COST TO COMPANY "
this includes : GROSS SALARY + incentives that are provided from the firm .
incentives includes many things like meal , medical facilities, phone facilities, house facilities , travel allowance etc.
THE SUM OF ALL THE REWARDS AND BENEFITS PROVIDED TO AN EMPLOYEE FROM THE EMPLOYER + THE SALARY IS TERMED AS "COST TO COMPANY"
hope this satisfies your query.
From United Kingdom, London
HR @ TIA Information Systems P Ltd.CTC- Something that people think you have Gross- Something you think you have Net- What you actually have
From India, Delhi
Sharmila DasDear Ms. Neha,
Just to add info - Gross Salary is the headline salary that an employee is paid prior to any deductions. Net Salary is what is actually paid into employees bank account and Cost to Cmpany includes Goss salary plus the Medical, Bonus, LTA and other annual emoluments paid to the employee by the company.
From India, Visakhapatnam
Gross Salary means Salary before any deduction i.e. before PF, ESIC, Insurance, etc.
CTC means cost for the employee that includes in his/her salary
PF (both Employee and employer)
ESIC (both Employee and employer)
Insurance if any
any other non cash or cash payout all includes in CTC
in short any cost to retain that employee is CTC
From India, Pune
SUMAN LATA YADAVCTC: is cost to company which includes BASIC + HRA+ ALLOWANCES+ REIMBURSEMENT+ BONUS+ GRADUITY+TRANSPORT FACILITIY+ MOBILE+ CREDIT CARD PAYMENT TOWARDS TRAVEL EXPENSES + CONTRIBUTION TOWARDS PF + ESI + MEDICAL/ACCIDENT INSURANCE etc, each and everything which Employer spends on Employee.
GROSS SALARY: Salary before statuory deductions(-- such as PF, ESI, TDS, PT etc).
NET SALARY : Take home in the form of cheque or cash after statuory deductions.
I hope above will suffice your query.
Thanks & regards,
From India, Delhi
Alfa RecruitersIn these things have a huge differences. In CTC consists a that amount which spends on a employee in any manner..
Gross Salary is the part of the Monthly Salary without considering the annual Benefits.......
Net Salary is that what you get in hand.........
From India, Kanpur
Apsara Mishra is absolutly right.
CTC means the cost incuured by the employee in any manner,it includes salary, statutory liabilities,training,travel,etc........
Gross Salary - Means the salary which has manadatory heads on which company is supposed to pay /spend towards employee from the leagal point of view.
Net Salary - means the salary that actually an employees is paid in hand.
From India, Vadodara
enterprise5cCTC - is what company offers you Gross - actually you are paid , including incentives, medical, travelling, misc.. Net - what you actually take home
From India, Bangalore
in CTC we include , Basic+HRA+TA+Other Allowance+Gratuity+Bonus+Employer P.F contribution+Employer contribution ESI, these all contents we include in the Cost To Company
In Gross Salary we exclude, Bonus+Gratuity+ Employer PF contribution+ Employer ESI contribution
IT means our total earning is our gorss salary.
From India, Coimbatore